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Subscription failed Subscribe for free Thank you for subscribing! 10 hours ago - Technology Report: Illicit activity actually a tiny part of cryptocurrency use Emily Peck Emily Peck Expand chart Data: Chainalysis 2022 Crypto Crimes Trends Report; Chart: Baidi Wang /Axios Illicit activities like cybercrime, money laundering and terrorist financing made up only 0.15% of all crypto transactions conducted in 2021, according to a new report from Chainalysis, a blockchain data platform. Why it matters: This is a sign of crypto's growing mainstream popularity -- and a rebuke to critics who say digital currency is mainly for criminals. Yes, but: Crypto crime is at an all-time high in absolute terms, the report found. It's just that the growth rate of legitimate activity far outpaced the growth rate for illicit activity, Kim Grauer, director of research at Chainalysis, tells Axios. The big picture: Crypto use soared in 2021. Transaction volume ballooned to $15.8 trillion up from $2.4 trillion in 2020. * The growth was due, in part, to the growing popularity of decentralized finance, a term that encompasses all the bank-like activity that happens on the blockchain without a bank -- like lending money. Worth noting: Chainalysis acknowledges that the data could change with additional information. Last year, it reported that illicit activity made up 0.34% of 2020 crypto transaction volume, but revised that number upward to 0.62%. * And one big scam can move the needle: The 2019 number was an outlier, the firm said, because of the "PlusToken Ponzi scheme." Go deeper Kia Kokalitcheva Jan 4, 2022 - Economy & Business Scoop: NFT marketplace OpenSea in talks to buy Dharma Labs Illustration: Eniola Odetunde/Axios NFT marketplace OpenSea is in talks to acquire Dharma Labs, a digital wallet for cryptocurrencies, Axios has learned from multiple sources. Why it matters: NFTs have exploded in popularity, as everyone from global consumer brands to indie artists have rushed to sell digital collectibles, and user-friendly crypto wallets are critical to the industry's future growth. Go deeper (<1 min. read) Margaret Talev, Glen Johnson 2 hours ago - Politics & Policy Biden's fiery 2024 preview President Biden and Vice President Kamala Harris speak with reporters after their speeches Thursday. Photo: Ken Cedeno/Pool/AFP via Getty Images President Biden says holding former President Trump accountable for the Jan. 6 attack is about confronting the truth so America can move on. * "I'm crystal clear about the threats America faces," he said at the Capitol today in a fiery speech on the anniversary of the riot. "But I also know that our darkest days can lead to light and hope." Between the lines: Biden also previewed themes for 2024 -- especially if there's a Biden-Trump rematch. Go deeper (1 min. read) Erin Doherty, Oriana Gonzalez Updated 3 hours ago - Politics & Policy In photos: An hour-by-hour record of the Jan. 6 Capitol riot Trump supporters storm the U.S. Capitol following a rally with former President Trump on Jan. 6, 2021. Photo: Samuel Corum/Getty Images One year ago today, a pro-Trump mob stormed police barricades and invaded the U.S. Capitol, where lawmakers had convened to certify the results of President Biden's Electoral College victory. It was a shocking, violent and historic day. Here's how it all unfolded: Go deeper (3 min. read) Axios gets you smarter, faster with news & information that matters. Copyright Axios Media, 2022 About About Axios Advertise with us Careers Events Axios on HBO Axios HQ Privacy and terms Online tracking choices Contact us Subscribe Axios newsletters Axios app Axios podcasts Courses Earn Axios rewards